Pet Tech Market – By Product, By Application, By End Use, By Distribution Channel, Global Forecast 2024 – 2032

Pet Tech Market Size

The global pet tech market size was estimated at USD 10.5 billion in 2023. The market is expected to grow from 12.7 billion in 2024 to 41.3 billion in 2032, at a CAGR of 15.9%. The rising trend of pet humanization and increased consumer spending on pet care products are the major growth drivers.
 

The market growth can be attributed to a combination of factors such as rapid expansion of global pet population, rising household income, increasing spending on pets, and availability of several tech-friendly products for pets. As owners increasingly consider the pets as a part of their family, the average amount spent per household on pets is rising. For example, an average American pet owner spent USD 1,960 on their pet(s) in 2023. The average pet dog costs USD 143 per month in 2024; cat ownership costs USD 90.50 per month, per cat. As households increase their spending on pets, there is a higher demand for pet tech products, thereby fueling market growth.
 

Furthermore, as per a recent study published by the GlobalPET, there are over one billion animals kept as pets worldwide. The number of households with pets in the U.S., Brazil, Europe, and China alone has exceeded half a billion. Also, more than half of the world's families are said to have at least one pet.  Thus, the growing volume of pets and willingness of pet owners to spend on their pets are together contributing to the market growth.
 

Moreover, growing awareness among pet owners regarding health monitoring and preventive care has enhanced the acceptance of these solutions, which are highly crucial for the growth of this market.
 

The pet tech market includes technology-based products designed for companion animals. It includes devices such as pet tracking devices, activity monitors, interactive toys, smart feeders and bowls, intelligent doors, pet cameras, and other tech-driven tools that help you monitor pets, even in the absence of pet owners.
 

Pet Tech Market Trends

• Growing trend of pet adoption and humanization in the world has positively influenced the market growth. High disposable income has further augmented the spending on animal healthcare.
   
• According to recent data, nearly 68% of households in the U.S. at present own a pet. Similarly, as per the American Veterinary Medical Foundation (AVMF), the most common category of total income among dog owners was in the USD 50,000 - 74,999 range for both 2023 and 2024 while the most common category of total income among cat owners was in the USD 30,000 or less range for both years. This has created a substantial demand for the pet care products including pet tech, that are set to proliferate the industry growth.
   
• These devices such as pet health tracking monitors, GPS trackers, pet toys, feeders, smart cameras, etc. help the owners to better care for their pets. Thus, as the awareness among pet owners is rising, the demand for such products is also high.
   
• Rise in disposable income and willingness of pet owners to spend on their pets is another crucial factor driving the adoption of various pet tech products. Majority of pet owners consider their pet as a family member; hence they undertake numerous efforts to take proper care of their pets. This created tremendous opportunities for the growth of this sector, leading to a high demand for these products.
   
• Additionally, pet wearables have features for health monitoring and vital sign tracking. These devices can collect information and identify potential health issues with a pet. These help the owners keep an eye on their pet’s health and act when necessary.
   
• Also, the ability of these devices to assist pet owners to track their pet’s location, health, and activity in real-time through a connected mobile application, making it easier for them to manage the caring routine of their pets. All these factors together aid in the market growth.
   
• Lastly, financing programs and regulatory policies that support technological innovations is one of the notable factors in the market. Such support leads to new technological developments, as well as rapid technology adoption, allowing companies to create sophisticated pet care solutions.
   

Pet Tech Market Analysis

Based on the product, the market is segmented into pet wearables, smart pet crates and beds, smart pet doors, smart pet feeders and bowls, smart pet fence, smart pet water dispenser, and smart pet toys. The pet wearables segment is further categorized into smart collar, smart vest, smart harness, and smart camera. The pet wearables segment was valued at USD 3.3 billion in 2021. The pet wearables market size in 2022 was USD 3.8 billion and reached USD 4.8 billion in 2023.
 

• Smart collars, vests, harnesses, and cameras are examples of pet wearables that help track health parameters like location, behavior, and even health in real-time. The data provided by these products is helpful to pet owners as it allows them to adequately manage their pets’ health parameters like heart rate, body temperature, and activity level, making it easier for caretakers to give precise attention in case of an absence.
   
• Furthermore, integration of technologies such as Internet of Things (IoT) and Artificial Intelligence (AI) in wearable devices makes it possible to collect data on pets at all times, which helps the pet owners to monitor their pets remotely, and thus ensure better animal healthcare.
   
• For example, AI-powered wearables can analyze movement, eating, and emotions, and detect possible risks to pets’ health. The software and mobile devices also enhance the convenience of access to data by pet owners. Invoxia, a French consumer electronics company, unveiled a smart dog collar that can track pet health and location. It can determine its position by using GPS, Bluetooth, Wi-Fi, and LTE. Invoxia records readings by using a combination of radar sensors and Artificial Intelligence (AI), which are synced to the accompanying app along with the details about the everyday activities of the pet. Thus, availability of such advanced devices further increases the adoption of pet tech wearables.
   
• In addition, adoption of GPS trackers in pet wearable devices is on the rise due to their role in safeguarding pets against theft. The combination of these factors facilitates high acceptance of pet wearable devices and thus, positively enhances growth of the segment.
   

Based on the application, the pet tech market is categorized into pet healthcare, pet owner convenience, communication and entertainment, and pet safety. The pet healthcare segment dominated the market in 2023 with a revenue share of 28%.
 

• Increasing pet ownership globally and growing trend of considering pets as an integral member of family has greatly influenced the demand for pet tech products for pet health monitoring.
   
• There is increasing concern amongst pet owners towards the welfare of their pets, which, in turn, is encouraging a larger number of pet parents to seek reliable pet technology solutions for health and wellness management of their pets.
   
• Further, rising concerns around pet healthcare and growing prevalence of chronic diseases in pets is fueling the adoption of these devices for pet healthcare monitoring. For instance, it is estimated that 1 in every 300 dogs and 1 in 230 cats would develop diabetes during their lifetime. Pet tech products help pet owners to effectively manage such conditions in pets.
   
• Moreover, technologies like smart collars and wearables can track the pets’ vital health signs such as body temperature, respiration rate, calories burned, activity level, and even their meals with smart feeders. These technologies ensure that pets receive timely health care and nutrition.
   

Based on the end use, the global pet tech market is segmented into household and commercial. The household segment is anticipated to witness growth at a CAGR of 15.2% between 2024 – 2032.
 

• Pet owners are purchasing advanced monitoring systems such as smart cameras, pet doors, automated feeders, and interactive toys which take care of the pet’s needs when the owner is away.
   
• Further, busy life routines and urban living of pet owners is also increasing the demand for pet tech products for home-use.
   
• Additionally, increasing awareness among pet parents regarding preventive healthcare is stimulating the adoption of these devices. Features like live location tracking, activity monitoring, and dietary recommendations increase the adoption of these solutions.
   
• In addition, the market has also seen new developments in the integration of smart homes where pet tech devices can connect with other household systems, which improves convenience for pet owners.
   
• Lastly, increasing disposable income and growing veterinary infrastructure in emerging countries is further augmenting the segmental growth.
   

Based on the distribution channel, the global pet tech market is segmented into physical pet store, online-only retailer, and physical mass merchant store. The physical pet store segment is anticipated to witness substantial growth over the analysis period to be valued at USD 20.5 billion in 2032.
 

• Physical pet stores offer buyers the ability to personally inspect products before making a purchase. Additionally, these stores offer a personalized shopping experience to their clients, thereby attracting more buyers.
   
• Growing number of retail outlets and ease of shopping in these stores, coupled with varied offers and discounts offered on products, contributes to their wide adoption.
   
• In addition, several well-known online sites and stores are increasing their offline presence by opening new retail outlets to improve customer engagement, increasing the market share for this segment.
   
• In December 2021, Fi announced its expansion into the physical retail segment with PetSmart through a rollout of 250 stores globally. Such initiatives drive the segment growth.
   

North America pet tech market was valued at USD 3.8 billion in 2021.  The region dominated the global market in 2023 with USD 5.8 billion growing from USD 4.5 billion in 2022.
 

• High rates of pet ownerships in the region, coupled with availability of advanced pet tech products, drives the market growth.
   
• Additionally, rising expenditure on pet care increases the adoption of these products in the region.
   
• High awareness among pet owners and accessibility to several pet tech devices also boosts the market growth.
   
• Also, the presence of numerous established players in the region will further positively impact the North America market size in the upcoming years.
   

The U.S. pet tech market is predicted to grow at 16.5% CAGR to reach USD 20.7 billion by 2032.
 

• According to the 2021–2022 National Pet Owners Survey by the American Pet Products Association (APPA), 70% of the U.S. households owned at least one type of pet. Additionally, almost 69 million of the U.S. households have at least one dog, and 45.3 million have at least one cat, about 9.9 million have birds, and 3.5 million have horses.
   
• Such high volume of pets in the country increases the demand for various pet tech products.
   
• Further, presence of several pet retail stores and well-established online platforms help in market penetration.
   
• Also, the market players are keen on providing innovative products to cater to the high demand, which positively drives the market growth in the country.
   

Europe pet tech market is anticipated to witness rapid growth over the forecast years.
 

• The growing pet ownership coupled with increasing initiatives by various government to improve animal healthcare is anticipated to spur the market growth.
   
• For instance, according to a policy paper published in October 2022, the government of the UK is expected to invest approximately USD 16.10 billion in R&D for digital businesses. With increasing digitalization and technological advancements, the market in the UK is expected to grow.
   
• Moreover, presence of key retailers of pet supplies in the region are expected to enhance the growth of the market.
   

Germany pet tech market is anticipated to witness significant growth in coming years in Europe.
 

• The rising adoption of pet animals in the country, high consumer preference for technology-based pet products, and surging expenditure on veterinary care is set to augment the market in Germany.
   
• In addition, favorable laws and policies implemented in the region by regulatory authorities’ further aid in the growth of companies operating in the market.
   
• High disposable income and willingness of pet owners to spend on their pets also aids in the market growth.
   

The Asia Pacific pet tech market held a market share of 17.3% in the market in 2023.
 

• The growth of the market in the Asia Pacific region can be attributed to the rising incidence of chronic diseases in pets, growing expenditure on pets owing to high disposal income, and increasing wearable technology penetration.
   

India pet tech market is poised to witness high growth in the Asia Pacific market over the analysis period.
 

• The increasing pet ownerships and rising disposable income in the country coupled with high expenditure on pet care will offer lucrative market growth opportunity in the country.
   
• In addition, rapidly expanding veterinary infrastructure in the country such as veterinary hospitals, clinics, as well as distribution channels such as retails stores and online platforms, will further enhance the market growth.
   

Brazil is anticipated to witness rapid growth in Latin America pet tech market over the forecast years.
 

• Brazil has the third-largest pet population in the world after the U.S. and Japan, with 160 million pets, of which 60 million are dogs, 30 million cats, and 32 million pet-owning households.
   
• Such high pet volume coupled with strong growth in veterinary expenditure is anticipated to foster the market growth.
   
• Additionally, the presence of several international as well as local pet tech companies in the country further aid in the market growth.
   

Saudi Arabia is set for lucrative growth in the Middle East and Africa pet tech market.
 

• The increasing pet ownership in the country, rising disposable income coupled with a rapidly expanding veterinary infrastructure will offer lucrative market growth opportunity in the country.
   

Pet Tech Market Share

The global market is highly fragmented in nature, with major organizations, local small players, and start-ups joining the industry competition. Top 4 companies such as Mars, Garmin International, Pawbo, and Petcube account for approximately 3% of the global market. These players dominate the market with extensive product portfolios and global distribution networks. The key industry players are consistently involved in creating new opportunities in the veterinary sector. Moreover, the major market players in the market implement several strategies to maintain a competitive edge in the market. These players are engaged in strategic acquisitions, mergers, collaborations, partnerships, expansions, and product launches among other strategies.
 

Pet Tech Market Companies

Prominent players operating in the pet tech industry include:

• Actijoy
• CleverPet
• Dogtra
• Felcana
• Fitbark
• Furbo
• Garmin International
• Halo Collar
• Link My Pet
• Loc8tor
• Mars, Incorporated
• Pawbo
• Pawscout
• Petcub
• Pet Huhou
• PETKIT
• PetPace
• Qpets
• Tianjin Smart Pets Technology
• Tractive
   

Garmin International is market leader in the pet wearables sector with innovative product range and strong distribution channels. The company is enaged in acquisitions of other companies to expand their offerings and enhance geographic reach. In January 2021, Garmin International and Garmin Services, a subsidiary of Garmin Ltd., acquired GEOS Worldwide Limited, an operator of the International Emergency Response Coordination Center (IERCC) and subsidiaries. The acquisition enabled Garmin to offer emergency surveillance and incident management services to new and existing clients.
 

Pawbo Inc., a subsidiary for Acer Inc., develops solution focused on enhancing the communication and interaction between pets and owners. Pawbo supplies remote controlled interactive pet cameras, treat dispensers and health monitoring devices for all breeds of pets which keeps the owners engaged with their pets. Their pets' health support devices are embedded with high definition video, two way audio and mobile command control features, allowing owners remote monitoring of their pets. Also, the integrated health and activity monitoring features enables pet owners to take better care of their pets.
 

Pet Tech Industry News:

• In May 2024, Garmin International launched the Alpha 300 series and Alpha TT 25 and T 20 collar series, the latest generation of tracking and training systems for hunters and their dogs. These new devices offer enhanced GPS tracking, training features, and durability, catering to the needs of outdoor enthusiasts. With this launch, Garmin strengthens its presence in the pet tech market by providing advanced solutions for canine tracking and training.
   
• In February 2024, Petcube expanded its product lineup with the launch of its new GPS Tracker. The GPS Tracker provides real-time location monitoring for pets, catering to growing consumer demand for comprehensive pet safety and tracking solutions, further solidifying Petcube's presence in the evolving pet technology space.
   
• In September 2023, Halo introduced its latest AI-driven model, the Halo Collar 3, designed to enhance pet safety with advanced hardware and software features.  This launch strengthens Halo’s position in the market, offering improved GPS tracking and safety for dog owners.
   
• In September 2023, Furbo introduced the Furbo 360° Cat Camera, the first pet camera designed specifically for cat safety and engagement. This innovative device offers a 360° rotating view, an interactive feather wand toy, and the ability to toss treats, providing interactive fun for cats. This launch further strengthens Furbo's leadership in the market, enhancing pet care and safety.
   

The pet tech market research report includes an in-depth coverage of the industry with estimates and forecast in terms of revenue in USD Million from 2021 – 2032 for the following segments:

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Market, By Product

• Pet wearable
  • Smart collar
  • Smart vest
  • Smart harness
  • Smart camera 
• Smart pet crates and beds
• Smart pet doors
• Smart pet feeders and bowls
• Smart water dispenser
• Smart pet fence
• Smart pet toys

Market, By Application

• Pet healthcare
• Pet owner convenience
• Communication and entertainment
• Pet safety

Market, By End Use

• Household
• Commercial

Market, By Distribution Channel

• Physical pet store
• Online-only retailer
• Physical mass merchant store

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • Southeast Asia 
• Latin America
  • Brazil
  • Mexico 
• Middle East and Africa
  • UAE
  • South Africa
  • Saudi Arabia